FDDXD - Alarm Bells Ring Over Refinance Mortgage Boom: Why Refis Are So Risky
Mortgage lobby throws hissy-fit over Fannie Mae's & Freddie Mac's new 0.5% "Adverse Market Refinance Fee," which was a "result of risk management and loss forecasting precipitated by COVID-19 related economic and market uncertainty."
The mortgage industry is in uproar over the surprise announcement by Fannie Mae (FDDXD) and Freddie Mac (FMCC) (the GSEs) Wednesday night that they would charge a 0.5% "adverse market refinance fee" on refinance mortgages that they buy - "a result of risk management and loss forecasting precipitated by COVID-19 related economic and market uncertainty," said Freddie Mac's statement sent to